Results For The Final Level Of The CFA Exams Are Out

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The Level III CFA (Chartered Financial Analyst) results are out and most folks can breathe a sigh of relief because they passed the excruciating exam.

According to the CFA Institute, approximately 54% of the 26,882 candidates passed their Level III exam in June.

That's higher than last year when only 49% of candidates passed. It's also the highest pass rate since 2008.

The CFA program, which consists of three exams, is considered to be the hardest series of tests on Wall Street. Fewer than 20% of candidates pass all three tests on the first try. It also takes the average CFA candidate four years to complete the entire program.

What's more is the average test-taker also spends about six months preparing. They tend to put in about 300 hours preparing for each level. It's a lot of work and a huge accomplishment.

Those who passed Level III will soon be able to officially call themselves CFA charterholders (new business cards, anyone?). Of course, that all depends on experience in the industry and membership requirements, the release said.

For now, they can celebrate. You can tell they're excited. Congrats all!

Just went 3 for 3 #cfaresults get off me — Andrew goldsmith (@agoldsmith1989) August 12, 2014